My client has recently given me debit card receipts which do not relate to her bank account.
She has said that some of these are from her peronnal barclays account. My client (sole trader) has an account 1220 A J Private A/C Business payments, do i post to this account and the relevent expence accounts?.
I have looked at other posting on this particular topic which also mention posting to capital introduced and by journal.
Secondly the remainder of the receipts are for a Alliance & Leicester/Santander card, which again do not come out of the bank a/c but there is an account 1206 Alliance & Leicester. Could i please have some help on how to put through sage.
It sounds like some one else has already set up accounts to handle expenses paid from personal accounts, so it should be OK but I would try and confirm that first, either with the client, or who ever created the accounts.
If the two accounts are used for personal payments, then what I would do (and others may have a different solution) is, at the end of the financial year, journal them into the Capital introduced account. This will leave them empty for the new financial year and the balances will appear in the correct section, on the balance sheet.
